Homeserve Plc Trading Statement (0496G)
July 19 2019 - 2:00AM
UK Regulatory
TIDMHSV
RNS Number : 0496G
Homeserve Plc
19 July 2019
HOMESERVE PLC
AGM TRADING UPDATE
LONDON - 19 July 2019- HomeServe, the international home repairs
and improvements business, publishes the following trading update
for the period 1 April to 18 July 2019, to coincide with its Annual
General Meeting which takes place today.
Trading has been in line with the guidance given by the Company
at its full year results on 21 May 2019. HomeServe continues to
expect further strong growth in FY20, with increased P&L
investment in Home Experts offset by strong performance in
Membership, particularly in North America. The planned increase in
investment in Checkatrade is proceeding well, with strong results
from recent advertising campaigns in North West England.
HomeServe's business remains highly seasonal with trading weighted
towards the second half.
HomeServe's business in Continental Europe continues to evolve
with two notable developments this month.
In Spain, HomeServe has reached agreement to secure the ongoing
billing arrangements for customers acquired through the Endesa
partnership for the next five years. This enables HomeServe to
continue to use on-bill arrangements for existing customers beyond
the initial two year period in force when the Endesa partnership
ended in May 2018 and will support the ongoing retention rate.
HomeServe sees limited opportunities for Membership growth in
Italy, so has reached agreement to sell its 49% shareholding in its
Italian associate, Assistenza Casa, to its partner Edison.
International business development resources will be focused on the
recently announced joint venture with Mitsubishi in Japan and
prospecting other more attractive markets.
HomeServe plans to announce its interim results for the six
months to 30 September 2019 on 19 November 2019.
Contacts
Media enquiries Investor Relations
Tulchan Group Miriam McKay - Group Communications
Martin Robinson and IR Director
Lisa Jarrett-Kerr Simon Lewis - Head of Investor Relations
homeserve@tulchangroup.com
+44 207 353 4200 Miriam.Mckay@homeserve.com
+44 7795 062564
Simon.Lewis@homeserve.com
+44 7970 840694
About HomeServe
HomeServe is an international home repairs and improvements
business which provides people with access to tradespeople and
technology to make home repairs and improvements easy. HomeServe is
listed on the London Stock Exchange, with a market capitalisation
of c. GBP3.8 billion.
Forward-looking statements
This announcement contains forward-looking statements with
respect to the financial condition, results and business of
HomeServe plc. By their nature, forward-looking statements involve
risk and uncertainty because they relate to events, and depend on
circumstances, that will occur in the future. HomeServe's actual
future results may differ materially from the results expressed or
implied in these forward-looking statements. Nothing in this
announcement should be construed as a profit forecast.
ENDS
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END
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